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Olema Pharmaceuticals, Inc. (Nasdaq: OLMA), also known as Olema Oncology, is a clinical-stage biopharmaceutical company committed to the discovery, development, and commercialization of targeted therapies for women's cancers. Headquartered in San Francisco with operations in Cambridge, Massachusetts, Olema is advancing a pipeline of novel therapies aimed at improving treatment options for women living with cancer. The core focus of the company centers on endocrine-driven cancers, nuclear receptors, and mechanisms of acquired resistance.
Olema's lead product candidate, palazestrant (OP-1250), is a proprietary, orally-available small molecule with dual activity as both a complete estrogen receptor (ER) antagonist (CERAN) and a selective ER degrader (SERD). Palazestrant is currently in Phase 3 clinical trials under the OPERA-01 study for patients with recurrent, locally advanced, or metastatic ER-positive (ER+), human epidermal growth factor receptor 2-negative (HER2-) breast cancer. This innovative therapy has demonstrated significant potential by completely blocking ER-driven transcriptional activity in both wild-type and mutant forms of metastatic ER+ breast cancer, showing anti-tumor efficacy, favorable pharmacokinetics, CNS penetration, and combinability with CDK4/6 inhibitors.
In addition to palazestrant, Olema is developing a potent KAT6 inhibitor (OP-3136), which addresses an epigenetic target implicated in breast cancer and other cancers. This compound has shown promise in preclinical studies and is expected to move into clinical trials by the end of 2024.
Olema's financial health remains robust, with cash, cash equivalents, and marketable securities totaling $249.0 million as of March 31, 2024. The company reported a net loss of $31.0 million for the first quarter of 2024, primarily driven by increased spending on research and clinical development activities. However, Olema continues to make significant strides in advancing its clinical programs, supported by experienced scientists, healthcare investors, and partnerships with innovative pharmaceutical companies.
Recent corporate highlights include the initiation of a Phase 1/2 dose-escalation and expansion clinical trial of OP-1250, and the selection of a development candidate for the KAT6 program. Olema's commitment to transforming the standard of care for women's cancers is evident in its ongoing clinical studies and presentations at major oncology conferences such as the ESMO Breast Cancer Annual Congress.
For more information about Olema Pharmaceuticals, visit their website at www.olema.com.
Olema Pharmaceuticals (Nasdaq: OLMA) reported progress in its Phase 1/2 trial of OP-1250 for ER+/HER2- breast cancer, with initial data expected in late 2021. The company holds $327 million in cash as of March 31, 2021, sufficient to fund operations through 2023. Q1 net loss was $15.3 million, up from $1.7 million year-over-year, with R&D expenses at $10.7 million due to heightened development activities. Olema appointed Yi Larson to its Board and strengthened R&D capabilities with new lab facilities in San Francisco.
Olema Pharmaceuticals (NASDAQ: OLMA) announced that its CEO, Sean P. Bohen, will participate in a fireside chat at the Canaccord Genuity Horizons in Oncology Virtual Conference on April 15, 2021, at 12 p.m. ET. The discussion will be moderated by Arlinda Lee, a Biotechnology Analyst at Canaccord Genuity. Investors can access a live webcast of the event in the Investors & Media section on Olema's website, with a replay available later. Olema is dedicated to developing targeted therapies for women’s cancers, including its lead candidate, OP-1250, currently in clinical trials.
Olema Pharmaceuticals has appointed Yi Larson to the Board of Directors amid advancements in its clinical development, particularly the OP-1250 program for breast cancer. Larson, previously CFO of Turning Point Therapeutics, brings extensive operational and healthcare banking experience. Frank McCormick, a longstanding director, transitions to Chair of the Scientific Advisory Board, continuing to advise Olema on its oncology strategies. This leadership shift aims to boost Olema's growth and pipeline expansion efforts focused on women’s cancers.
Olema Pharmaceuticals (NASDAQ: OLMA) reported significant progress in 2020, highlighted by the initiation of a Phase 1/2 clinical trial for OP-1250, targeting ER+/HER2- breast cancer. The company raised approximately $382 million from Series B, Series C, and its IPO. Cash and cash equivalents reached $338.5 million as of December 31, 2020, providing funding through 2022. However, net losses rose to $24.0 million for the year, up from $4.3 million in 2019. Research and development expenses increased significantly to $13.7 million, reflecting ongoing clinical efforts.
Olema Pharmaceuticals announced a poster presentation on OP-1250, an estrogen receptor antagonist and degrader for metastatic breast cancer, at the AACR Annual Meeting, virtually scheduled for April 10-15, 2021. The late-breaking abstract, accepted by AACR, highlights OP-1250's potential in shrinking ER+ brain metastases in a model expressing mutant ESR1. Olema's ongoing Phase 1/2 clinical trial evaluates OP-1250 as a treatment for ER+/HER2- breast cancer. The presentation aims to elevate awareness and interest in the drug's application in women's cancers.
Olema Pharmaceuticals (NASDAQ: OLMA), a clinical-stage biopharmaceutical company, will participate in two upcoming virtual investor conferences. On March 2, 2021, CEO Sean P. Bohen will join a breast cancer panel at the Cowen 41st Annual Health Care Conference. Following that, on March 15, 2021, he will participate in a women's health panel at the 33rd Annual ROTH Growth Conference. Olema focuses on targeted therapies for women’s cancers, with its lead product OP-1250 currently undergoing a Phase 1/2 trial for ER-positive breast cancer.
Olema Pharmaceuticals (NASDAQ: OLMA) announced that its CEO, Sean P. Bohen, will present at the 39th Annual J.P. Morgan Virtual Healthcare Conference on January 11, 2021, at 10 a.m. ET. The presentation will be available for live streaming, and a replay will be provided thereafter. Olema is focused on developing targeted therapies for women's cancers, with its lead candidate, OP-1250, being evaluated for ER-positive breast cancer in a Phase 1/2 trial.
Olema Pharmaceuticals has announced two poster presentations regarding OP-1250, an innovative estrogen receptor antagonist and selective ER degrader, at the virtual San Antonio Breast Cancer Symposium. The studies focus on OP-1250's efficacy in shrinking tumors in preclinical xenograft models and a Phase 1/2 clinical trial protocol for patients with advanced HR-positive, HER2-negative breast cancer. Presentations are scheduled for December 9, 2020, showcasing Olema's commitment to advancing targeted therapies for women's cancers.
Olema Pharmaceuticals has successfully closed its initial public offering (IPO) of 12,650,000 shares at $19.00 per share, raising approximately $240.4 million. This includes 1,650,000 shares sold due to the underwriters' full exercise of their option. The shares began trading on Nasdaq under the ticker symbol 'OLMA' on November 19, 2020. The offering was managed by J.P. Morgan, Jefferies, and Cowen, with registration statements becoming effective on November 18, 2020.
Olema Pharmaceuticals, Inc. has announced the pricing of its initial public offering of 11,000,000 shares at $19.00 per share, aiming to raise approximately $209.0 million before expenses. All shares are being offered by Olema, which has also given underwriters a 30-day option for an additional 1,650,000 shares. The shares are set to trade on the Nasdaq under the ticker symbol OLMA, starting November 19, 2020, with the offering expected to close on November 23, 2020. J.P. Morgan, Jefferies, and Cowen are leading the offering.
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